Victorians are voting with their feet and choosing to live, work or invest in regional Victoria, new data shows.
Minister for Planning Richard Wynne today released the latest Victorian Building Authority building permit data, which shows the value of buildings in Victoria reached a record $32.8 billion in the 2016-17 financial year.
Regional and rural Victoria recorded higher growth rates for building than in metropolitan Melbourne, increasing 6.9 per cent on the previous financial year to top $5.8 billion. Building in inner and outer Melbourne rose a combined 3.4 per cent to $27 billion.
The data shows by municipality:
- 1,920 permits were issued in Ballarat, accounting for $430.5 million in works
- 2,370 permits were issued in Bendigo, accounting for $393.4 million in works
- 1,167 permits were issued in Shepparton, accounting for $244.3 million in works
- 1,295 permits were issued in Bass Coast, accounting for $214 million in works
- 955 permits were issued in Wodonga, accounting for $210.8 million in works.
It shows that we’re encouraging sustainable growth in the regions – and families are responding. The Labor Government is making record investments in schools, hospitals, and transport, giving locals the services they need.
The Andrews Labor Government recently launched the Ready when you are campaign to encourage more people to make the move to regional Victoria. We’re making it easier for young Victorians to buy their first home there, by doubling the First Home Owner Grant to $20,000 in the regions.
Since November 2014, more than 60,000 jobs have been created across regional Victoria, with the unemployment rate dropping from 6.6 per cent to 5.1 per cent.
Quote attributable to Minister for Planning Richard Wynne
“These are really encouraging figures. They are proof that investor confidence in regional Victoria is at an all-time high. It shows that we’re encouraging sustainable growth in the regions and it’s working.”
Quote attributable to Minister for Regional Development Jaala Pulford
“There’s never been a better time to make the move to regional Victoria. It’s got lifestyle, community and it’s affordable. We’re creating the jobs of the future and ensuring every Victorian can access quality healthcare, education and transport.”
Reviewed 19 August 2020